Detroit

DTE Gas Storage has launched a binding open season for natural gas storage services at the Washington 10 storage complex, which is north of Detroit.

A natural gas “renaissance” is under way, but the federal government appears not to have noticed, ConocoPhillips CEO Jim Mulva said last week.

A “natural gas renaissance” is under way, but the federal government “appears not to have noticed,” ConocoPhillips CEO Jim Mulva said Tuesday.

After finding “robust” interest in its proposed Phase II expansion, Vector Pipeline LP., a joint venture between Calgary-based Enbridge Inc. (60% interest) and Detroit-based DTE Energy Co. (40% interest), announced last week that it will formally request permission from FERC to expand its mainline natural gas transmission pipeline for the second time in two years.

After finding “robust” interest in its proposed Phase II expansion, Vector Pipeline LP., a joint venture between Calgary-based Enbridge Inc. (60% interest) and Detroit-based DTE Energy Co. (40% interest), announced Wednesday that it will formally request permission from FERC to expand its mainline natural gas transmission pipeline for the second time in two years.

“The breach of trust is deep and wide,” Priory said in a speech to the Economic Club of Detroit. “Business today is suffering from a crisis in confidence. This is no wake up call; it’s a screeching red alert.” Shareholder confidence is at an all-time low, he said.

Detroit-based MCN Energy Group Inc. has completed selling its 95% interest in four coal fines plants for $100 million and its interests in two other plants for $32 million to a unit of DTE Energy Co. The transaction was independent of MCN’s pending merger with DTE (see Daily GPI, April 2). MCN built the plants to process fine particles of coal into briquettes for traditional coal markets. Concerns about the plants’ qualification for synthetic fuel tax credits led MCN in 1998 to record a $133.8 million pre-tax write-off of the coal fines project. Because of its completed sale to DTE Energy Services, MCN will record a pre-tax first quarter gain of approximately $125 million.

Detroit-based MichCon said its customers will continue to receive a fixed price of $2.95/Mcf through the end of the year, after it withdrew its requests before the Michigan Public Service Commission to eliminate the fixed price and implement a permanent customer choice program. MichCon had wanted to begin the choice program April 1, but said it would continue the current program instead. It will file an application this summer with MPSC to set a gas cost recovery factor, based on market-price forecasts, which would go into effect with customers’ Jan. 2002 bills. The gas distributor, a subsidiary of MCN Energy Group Inc., serves 1.2 million Michigan families and businesses.

“Our charge was to go out on the attack and learn about operations ina deregulated setting. We were funded as a pilot and we operated that way.We did very little advertising. Our goal was not to become a rapid expansion-typecompany,” said Jean Redfield, president of DTE Edison America.